MTD – another burden on landlords time/money

The Government’s Making Tax Digital scheme will hit landlords hard as they are forced to submit quarterly tax returns and face significantly increased accountancy costs.

By 2020, most businesses, self-employed people and landlords, will be expected to submit quarterly self-assessment tax returns digitally to HMRC.

It will start with Income Tax in 2018 for businesses which will include landlords with an annual turnover above the VAT threshold of £83,000, and then subsequently it will roll out to all businesses, self-employed people and landlords with an annual turnover above £10,000 from 2019.